Trend Analysis by Master Chen:

BTC:

On the 4-hour timeframe, a bullish triangle pattern has formed, and the trend is in line with short-term expectations. If the price breaks above the top of the triangle pattern, there is a high probability of reaching a new high. If the price breaks through and stabilizes above the support after the breakthrough, we can consider placing a retracement long position on the short-term timeframe.

Intraday resistance levels to watch are 69200 and 68500. If the price breaks the first resistance level, a retracement to around 70000 is possible. If the price stabilizes near 70000 after breaking the first resistance level, the likelihood of reaching a new high will significantly increase.

If the price holds the first support level in the short term, the possibility of the bullish trend continuing as indicated by the black trend in the chart will increase. If it reaches the second support level, there may be a short-term consolidation, but if it falls below, the bearish momentum will strengthen again.

First resistance level: 69200 Second resistance level: 68500 First support level: 69200 Second support level: 68500

ETH: ETH is currently facing short-term resistance at 3600, with 3200 serving as a valid and double-bottom support level. After touching the 3200 level, the market is making a rebound, and the short-term target on the 4-hour timeframe can be around 3500.

The daily resistance level remains unchanged, focusing on the 3600-3800 range. 3800 still serves as a crucial level, and only by breaking this level can the price move towards higher levels, thereby opening up the upward space once again.

4.7 Master Chen's Short-term Pending Orders:

BTC: Long near 68100-68500, target 69300-69800

ETH: Long near 3310-3350, target 3400-3420

This article is exclusively planned and published by Master Chen (WeChat public account: 币神师爷陈). If you want to learn more about real-time investment strategies, untangling, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication. Hopefully, it can help you find what you want in the cryptocurrency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% going with the trend. Daily updates on macro analysis articles across the web, technical indicator analysis of mainstream coins and altcoins, and spot mid-to-long-term replay price prediction videos.

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